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PMM

Franklin Managed Municipal Income Trust
PMM

66 hedge funds and large institutions have $40.7M invested in Franklin Managed Municipal Income Trust in 2015 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 20 increasing their positions, 13 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

54% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 13

4% more capital invested

Capital invested by funds: $39.1M → $40.7M (+$1.6M)

0.29% more ownership

Funds ownership: 9.62% → 9.91% (+0.29%)

4% less funds holding

Funds holding: 69 → 66 (-3)

22% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 9

Holders
66
Holders Change
-3
Holders Change %
-4.35%
% of All Funds
1.76%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
7
Increased
20
Reduced
13
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
+$2.96M
2
PPA
Parametric Portfolio Associates
Washington
+$1.54M
3
LSA
Liberty Street Advisors
New York
+$1.41M
4
KIM
Karpus Investment Management
New York
+$711K
5
AAM
Advisors Asset Management
Colorado
+$331K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$3.53M
2
AQR Capital Management
AQR Capital Management
Connecticut
-$1.13M
3
NCM
Newgate Capital Management
Connecticut
-$1.12M
4
MIG
Mariner Investment Group
New York
-$907K
5
ACM
Akanthos Capital Management
California
-$906K
Name Holding Trade Value Shares
Change 		Change in
Stake
US Bancorp
51
US Bancorp
Minnesota
$53K – – –
PSI
52
Pinnacle Summer Investments
Virginia
$41K – – –
WA
53
WFG Advisors
Texas
$36K -$9.3K -1,272 -21%
EWM
54
Evercore Wealth Management
New York
$25K +$24.6K +3,363 New
OIA
55
Optimum Investment Advisors
Illinois
$20K – – –
BAM
56
Brave Asset Management
New Jersey
$18K – – –
WEC
57
Winslow Evans & Crocker
Massachusetts
$15.2K – – –
MFS
58
MSI Financial Services
Massachusetts
$12K +$44 +6 +0.4%
BIM
59
BlackRock Investment Management
Delaware
$11K – – –
KA
60
Klingman & Associates
New York
$11K – – –
CFA
61
Carroll Financial Associates
North Carolina
$7K – – –
Fifth Third Bancorp
62
Fifth Third Bancorp
Ohio
$7K – – –
FAM
63
Formidable Asset Management
Ohio
$6K – – –
Citigroup
64
Citigroup
New York
$5K – – –
MA
65
MUFG Americas
New York
$5K +$1.92K +262 +63%
AQR Capital Management
66
AQR Capital Management
Connecticut
– -$1.13M -156,263 Closed
MIG
67
Mariner Investment Group
New York
– -$907K -125,038 Closed
ACM
68
Akanthos Capital Management
California
– -$906K -125,000 Closed
SG Americas Securities
69
SG Americas Securities
New York
– -$371K -51,191 Closed
VKH
70
Virtu KCG Holdings
New York
– -$202K -27,894 Closed
PRCM
71
Pine River Capital Management
Minnesota
– -$80K -10,980 Closed
NPC
72
National Planning Corporation
California
– -$73.4K -10,075 Closed
WAM
73
Wolverine Asset Management
Illinois
– -$20K -2,864 Closed
DADC
74
D.A. Davidson & Co
Montana
– -$14K -2,000 Closed
TRCT
75
Tower Research Capital (TRC)
New York
– +$263 +36 New
1 2
3

PMM Hedge Fund Activity: Q1 2015 in Review

66 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Franklin Managed Municipal Income Trust (PMM) for Q1 2015, worth a combined $40.7M — up 4.1% from $39.1M a quarter earlier.

Sellers outnumbered buyers: 9 funds closed out of PMM and 7 opened new positions — a net loss of 2 holders — while 13 trimmed existing stakes and 20 added.

The largest buyer was Bank of America, adding an estimated $2.96M. The largest seller was Morgan Stanley, cutting an estimated $3.53M.

  • 66 institutional investors held Franklin Managed Municipal Income Trust (PMM) as of Q1 2015, down from 69 in Q4 2014.
  • Funds reported $40.7M of Franklin Managed Municipal Income Trust stock for Q1 2015, up 4.1% quarter-over-quarter.
  • 7 funds opened new Franklin Managed Municipal Income Trust positions in Q1 2015 and 9 closed out, a net change of -2 holders.
  • The largest Franklin Managed Municipal Income Trust buyer in Q1 2015 was Bank of America, an estimated $2.96M added.
  • The largest Franklin Managed Municipal Income Trust seller in Q1 2015 was Morgan Stanley, an estimated $3.53M sold.

Based on aggregated 13F filings for Q1 2015.